What Happened To Quincy's Family Steakhouse - T-Tees - Your Answers Await, Life's Questions Unraveled

Austins Steaks & Saloon Inc., the parent company of the WesterN SizzliN Stores of Virginia Inc., has signed an agreement with Franchise Finance Corp. of America to operate 97 Quincy’s Family Steakhouses in the Southeast.

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It’s unclear how many Quincy’s restaurants will be affected in the Upstate. The Quincy’s Family Steakhouse at 102 S. Duncan By-Pass in Union, which closed Thursday, was not part of the recently completed deal, according to a representative of Austins Steaks. The Union eatery was shut down one day after manager Angela Fowler received a phone call from the restaurant’s corporate headquarters ordering its immediate closure. Representatives of Franchise Finance Corp. of America and Buckley Acquisition Corp., which manages the Quincy’s stores in the Upstate, could not be reached Friday evening for comment on the deal or the Union closing. WesterN SizzliN Stores of Virginia Inc., which will operate the restaurants, and FFCA signed papers Thursday to begin negotiations for long-term lease arrangements for the 97 remaining stores. Victor F. Foti, president and chief executive of Austins Steaks & Saloon Inc., said the long-term planning will enable the company to continue growth efforts. “Our goal is two work with FFCA to develop and implement a long-term strategic plan for these units, which would provide an attractive growth vehicle for our system as a whole.” Both parties hope to reach an agreement before an Aug. 31 deadline. Until that time, the company will operate the stores under a short-term lease arrangement, according to Marc Sperry, chief operating officer of WesterN SizzliN Corp. Sperry said he did not know whether the company would eventually buy the restaurants from FFCA, but that it might be considered down the road. As far as changes in the restaurant’s format or signage, Sperry said patrons would not see any immediate changes. Austins Steak and Saloon Inc. currently operates and franchises 235 units in 24 states as WesterN SizzliN, WesterN SizzliN Wood Grill, Great American Steak and Buffet Company, and Austins Steakhouse. As of Dec. 31, 1999, Scottsdale, Ariz.-based FFCA, a finance company for chain restaurants, convenience stores and automotive services, had investments in more than 5,300 properties throughout the United States. Some of the company’s clients operate Applebee’s, Arby’s, Burger King, Hardee’s, Wendy’s and Valvoline Instant Oil Change.

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